Date: August 7, 2026

Financial Results (Consolidated)

Q1FY27 Performance Highlights:

  • Total Income: ₹3,637 million (54% YoY growth from ₹2,357 million in Q1FY26)
  • EBITDA: ₹1,039 million (120.5% YoY growth from ₹471 million in Q1FY26)
  • EBITDA Margin: 28.6% (858 bps improvement from 20.0% in Q1FY26)
  • PAT: ₹740 million (120.1% YoY growth from ₹336 million in Q1FY26)
  • PAT Margin: 20.34% (608 bps improvement from 14.26% in Q1FY26)
  • Steady state EBITDA margin post duty calibration: 24% (398 bps higher YoY)

Quarterly Comparison:

| Particulars (₹ Mn) | Q1FY27 | Q1FY26 | YoY | Q4FY26 | QoQ |

| Total Income | 3,637 | 2,357 | 54% | 2,433 | 49% |

| COGS | 2,289 | 1,590 | 44% | 1,420 | 61% |

| Gross Profit | 1,348 | 767 | 76% | 1,013 | 33% |

| Gross Margin % | 37.1% | 32.5% | 453 bps | 41.6% | (459 bps) |

| Employee Expenses | 123 | 94 | 32% | 85 | 46% |

| Other Expenses | 185 | 202 | -8% | 346 | -46% |

| EBITDA | 1039 | 471 | 120.5% | 583 | 78% |

| Depreciation | 50 | 16 | 216% | 57 | -13% |

| Financial Cost | 16 | 1 | 971% | 14 | 10% |

| PBT | 974 | 454 | 115% | 512 | 90% |

| Tax | 234 | 118 | 99% | 140 | 68% |

| PAT | 740 | 336 | 120.1% | 372 | 99% |

Balance Sheet Position (as of FY26):

| Liabilities (₹ Mn) | FY26 | Assets (₹ Mn) | FY26 |

| Equity Share Capital | 226 | PPE | 461 |

| Other Equity | 10,834 | ROU Lease | 434 |

| Non Controlling Equity | 51 | Other Intangibles | 33 |

| Deferred Tax Liabilities | 84 | Investments | 95 |

| Lease Liability | 330 | Loans | 2 |

| Borrowings | 322 | Other Financial Assets | 120 |

| Trade Payables | 1,074 | Deferred Tax Assets | 13 |

| Other Financial Liabilities | 511 | Inventories | 5,831 |

| Current Tax Liabilities | 66 | Investments | 1,729 |

| Total Liabilities | 13,626 | Trade Receivables | 1,742 |

| | | Cash & Equivalents | 2,629 |

| | | Bank Balance | 431 |

| | | Total Assets | 13,626 |

Operational Highlights

Order Book & Business Metrics:

  • Order book position as of June 30, 2026: ₹2,250 million (expected execution in next 3-4 months)
  • Lab Grown Diamond jewellery exports: 90.7% of overall export sales mix in Q1FY27 (vs 87.8% in Q1FY26)
  • Online revenue: 19.3% of total revenue in Q1FY27
  • Cash and Cash Equivalents (including investments): ₹4,566.71 million as of June 2026

B2B Export Revenue Breakdown Q1FY27:

| Category | INSTORE (Value) | ONLINE (Value) | Total (%) |

| Lab Grown | 75% | 16% | 91% |

| Natural | 6% | 3% | 9% |

| Total | 81% | 19% | 100% |

Inventory Status:

  • 64% of inventory with customers on consignment as finished jewellery
  • 11% of inventory is B2C inventory

ORIGEM Retail Performance:

  • Total revenue: ₹81.56 million in Q1FY27
  • 26 operational stores across 13 cities (8 in Mumbai, 3 in Bengaluru, 2 each in Noida, Pune, Gurugram, Hyderabad, and 1 each in Kolkata, Delhi, Chennai, Udaipur, Chandigarh, Faridabad, Jodhpur)
  • Introduced lab grown diamond jewellery in 9 KT gold and old gold exchange scheme

Strategic Updates

Tariff Agnostic Business Model:

  • US subsidiary casts raw gold into unfinished jewellery pieces within United States
  • Alterations completed in India (polished & setting)
  • Product qualifies as US Product of Origin through rulings from U.S. Customs
  • Recent increase in Customs Duty on gold to 15% (10% BCD + 5% cess) has no material impact due to SEZ benefits

Dividend Distribution Policy:

  • Minimum payout ratio of 50% of annual Standalone PAT
  • ~₹2.5+ billion distributed to shareholders via buyback and dividend over last 5 years
  • Average dividend pay-out of 50%+ of Standalone PAT over last five years

Company Structure & Board

Group Structure:

  • Goldiam International Limited (Holding Company)
  • Goldiam Jewellery Limited SEEPZ Mumbai (Wholly Owned Subsidiary) - Manufacturing, Marketing & Design, Exporting
  • Goldiam USA New York, USA (Wholly Owned Subsidiary) - Marketing to Retailers
  • Eco-Friendly Diamonds LLP SEEPZ Mumbai (88% Subsidiary) - Growing & Manufacturing Lab Grown Diamonds
  • Diagold Designs LLP (Subsidiary Company)

Board of Directors:

  • Rashesh Bhansali - Chairman (28+ years experience in diamonds & jewellery)
  • Anmol Rashesh Bhansali - Managing Director (BS Business Administration from Wharton School, 6+ years experience)
  • Ruchi Shrinath Pandya - Non-Executive Independent Director (BSL.LLB-Mumbai & Solicitor UK & Wales)
  • Pannkaj Chimanlal Ghadiali - Independent Director (Chartered Accountant since 1979)
  • Nipa Utpal Sheth - Independent Director (Founder of Trust Group, 20+ years fixed income market experience)
  • Tulsi Gupta - Non Executive, Non Independent Director (GIA certified jewellery designer, MSc from Imperial College London)